Bachelor in Accounting & Finance (B.A.F)

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B.A.F. / Third Year – V th Semester (Revised)

Cost Accounting Paper III

• Uniform costing and Inter - firm comparison: Meaning and need for uniform costing - Essentials for success of uniform costing - Advantages and limitations of uniform costing - Areas of uniformity, uniform cost manual

• Inter - firm comparison objectives: Prerequisites of inter firm comparison - Advantages and Limitations

• Non integrated system of accounts: Meaning - Advantages and Disadvantages - Distinctive features - Cost control accounts to be prepared - Journal entries - Simple practical problems

• Integrated Accounts: Meaning - Advantages and Disadvantages - Distinctive features - Journal entries - Simple practical problems

• Operating Costing: Meaning of operating costing - Determining of per unit cost - Pricing of services - collection of costing data - simple practical problems based on costing of hospital, hotel, goods and passenger transport and other services

Economics III

• Introduction: Demographic features - Poverty, Income Inequality and Unemployment
  Urbanisation and its effects

• Agricultural Sector: Institutional Structure - Land reforms in India
  Technological changes in agriculture
  Agricultural pricing and agricultural finance
  Agricultural marketing
  National Agricultural policy

• Industrial Sector: Growth and pattern of industrialization
  Industrial Policy of 1991
  Public sector enterprises and disinvestment policy
  Small scale sector - problems and prospects

• Service Sector: Nature and scope of service industry
  Recent trends in Banking industry, Insurance industry
  Healthcare Industry and Tourism Industry

• External Sector: Structure and Directions of Foreign Trade
  India's Balance of Payments since 1991
  FDI, Foreign capital and transactional companies in India
  Role and impact of SAARC, ASEAN and WTO

• Money and Banking: Money market and its features
  Monetary policy of RBI
  Progress of commercial banking in India
  Development of capital markets
  SEBI and its functions

Financial Accounting Paper VI

• AS- 14 Amalgamation, Absorption & External Reconstruction (excluding inter - company holding): In the nature of purchase with corresponding accounting treatments of pooling of interests and purchase method respectively.
  Meaning and computation of purchase consideration.
  Inter company debtors, creditors, loan, bills, loading in stock.

• Internal Reconstruction : Need for reconstruction and company law provisions.
  Distinction between internal and external reconstructions.
  Methods including alteration of share capital, variation of share holder rights, subdivision, consolidation, surrender and reissue/cancellation, reduction of share capital with relevant legal provisions and accounting treatment for same.

• Investment Accounting: For shares (variable income bearing securities)
  For debentures/preference shares(fixed income bearing securities)
  Accounting for transactions of purchase and sale of investments with ex and cum interest prices and finding cost of investment sold and carrying cost as per weighted average method( excluding brokerage)
  Columnar format for investment account

• Accounting for transaction of foreign currency: In relation to purchase and sale of goods, services and assets and loan and credit transactions.
  Computation and treatment of exchange rate differences

• Introduction to IFRS: Purpose and objective of financial statement - its frame work - its assumption, characteristics, element, recognition and measurement.
  Convergence and first time adoption to IFRS(IFRS - 1)

Taxation III

• Definitions: Section 2 - Assessee, Assessment year, assessment, annual value, business,
  Capital Asset, Income, Person, Previous Year, Transfer.

• Basis Of Charge: Section 3- 9 - Previous year, Residential status, Scope of total income. Deemed income.

• Exclusions From Total Income: Section 10 - restricted to,
  Agricultural income
  Sums received from HUF by member
  Share of profit from firm
  Casual and non recurring receipts
  Scholarships
  Income of minor child
  Allowance to members of parliament and legislative assembly
  Exemptions related to specific head of income to be covered with relevant provisions such as salary, Income from other sources.

• Heads Of Income:
  Salary - Section 15-17 incl section 10 relating to:

  • House rent allowance

  • Travel Concession

  • Special allowance

  • Pension- commutation

  • Leave encashment

  • Compensation

  • Voluntary retirement

  • Payment from provident fund

  • Gratuity

  
  Income from house property - Section 22-27 ( incl: Section 2 - Annual value)
  Profits and gains from business & profession , Vocation Section 28-32, 36, 37,40, 40A & 43B( incl: Section 2- Business)Income from other sources- Section 56-59

• Deductions Under Chapter VI - A: 80C - payment of LIC/PF and other eligible investments
  80CCC - Contribution to certain pension fund
  80D - Medical insurance premium
  80DD - Maintenance and medical treatment to handicapped dependent
  80E - Interest on educational loan
  80U - Deduction in the case of totally blind or physically handicapped or mentally retarded resident person.

Financial Accounting Paper - V

• Issue of Shares and Debentures: Shares and share capital
  Issue of shares by different modes - IPO, Private placements, preferential, rights, ESOP, SWEAT
  Issue of shares at par, premium and discount
  Application for shares including minimum subscription, price band, Escrow Account
  Allotment of shares including under and over subscription (including Prorata allotment) and calls in arrears / received in advance including interest calculation
  Issue of shares for cash including forfeiture and reissue of forfeited shares
  Capitalization of reserves and issue of bonus shares.
  Issue of debentures at par, premium and discount
  Issue of shares and debentures for purchase of business
  Issue of shares and debentures for other services

• Redemption of preference shares: Company law / legal provision for redemption
  Sources of redemption including divisible profits and proceeds of fresh issue of shares
  Premium of redemption from sale of security and profit of company
  Capital redemption reserve account - creation and use
  Payment from sources including out of fresh issue / profits

• Redemption of Debentures: Redemption of debentures at par, premium, discount
  Debenture redemption reserve and debenture redemption sinking fund excluding insurance policy
  Conversion into new class of shares or debentures with options including at par, premium and discount
  Purchase / buy back of own debentures or immediate cancellation or holding including ex and cum interest for purchase / sale price (excluding brokerage thereon)

• Buyback of shares: Company law / legal provision (including related restrictions, power, transfer to capital redemption reserve account and prohibitions)
  Compliance of conditions including sources, maximum limits and debt equity ration
  Cancellation of shares bought back

• Final accounts of Co-operative housing society: Provisions of Maharashtra State Co-operative Societies Act and rules
  Accounting provisions including appropriation to various funds
  Format of Final Accounts - Form N
  Simple practical problems on preparation of final accounts of a co-operative housing society

Management Accounting Paper II

• Computation Of Total Income And Taxes Thereon: Of individual and HUF (Including rates of taxes & excluding capital gains)
  Problems designed to test the knowledge of provisions of income under specific head-
  Notes-

  • The problems should not cover more then two heads of income and two deductions

  • The applicability of law for the purpose of examination would be the law in orce as on 31st march immediately preceding the academic year.

• Ratio Analysis: Interaction of ratios
  Projection of financial statements from given ratios and information

• Capital Budgeting: Introduction, types of capital, sources of capital
  Evaluation of capital expenditure proposal from given cash flow, concept of present value,
  Techniques of appraisal of investment proposal
  Payback period method, Average rate of return method
  Net present value method, IRR
  Profitability index method

• Cash Budgeting: Meaning and objective
  Budgeting of receipts and payments- trading, non trading and capital
  Preparation of monthly budget and finding out closing cash balance

• Interpretation of financial statements: Contents and importance of notes to accounts, directors report, audit report
  Use of notes to accounts, directors report, audit report. Ratios to analyze financial statements

• Concept of MIS report in Computer environment: Concept, need, characteristics, role of MIS
  MIS and business, MIS and computers
  MIS generated by accounting software
  Limitations of MIS

Sapan Nikhil Commerce Classes

Sapan Nikhil Commerce Classes (SNCC) was started jointly by Prof. Sapan B. Parikh (GCWA, CA) and Prof. Nikhil J. Panchal (Mcom, CS, CA) in the year 2000.

Initially started as Group tuition, now the classes has hundreds of students studying every year. It has huge alumni of more than 7,000 students. Both Prof. Sapan B. Parikh B.com GCWA, CA and Prof. Nikhil J. Panchal M.com, CS, CA are highly experienced and qualified. Classes also has a team of professionally qualified teachers having wide experience in their respective subjects.

SNCC as it is popularly known is a specialist in teaching SELF FINANCE courses. We are the only class in Mumbai which has special batches for BAF, BBI and BMS. It has become a synonym for self finance & advance level courses.

Majority of students going for Self Finance courses take tuitions in SNCC. We have also started a Multi Media Branch at Kandivli (East). At our east branch we give coaching with the aid of Projectors which give audio-video impact to students and has higher retention capacity.

Apart from preparing students thoroughly for an outstanding performance at the exam, the classes arrange Seminars for personality development & carrier guidance.

SNCC is also known for its well planned test series as a regular feature for all the subjects of varied courses (BCOM, BAF, BBI, BMS, CPT, MBA) at free of cost. The tests are conducted for Practical & theory subjects. Number of students have benefited by these test series. More over at the end of the syllabus thorough Revision Lectures are conducted with three prelim exams. After passing through such rigorous learning process, students find the subjects really interesting and comfortable. This increases their eagerness to learn and become conceptually strong to face the corporate world.

The driving force for the success of SNCC classes are its BRIGHT STUDENTS who are working hard year after year and creating history. The commitment of teachers to draw the best out of weak student has also been an important factor contributing to the trust the classes enjoys among the parents.

At SNCC :

• We complete entire syllabus one month prior to exam dates

• We conduct Fortnightly exams for each chapter as a part of Test Series

• We take Three prelims per subject

• We give Conceptual explanation of all the topics

• We explain Practical application of the theory

• We solve Maximum Questions in the classroom

• We give Home work Questions as an assignment and same is checked by professors

• We provide Exhaustive study material of Theory and Practical papers at the beginning of the term

• We are available for round the clock doubts solving after portion completion as well as during exam

• We teach students with the aid of Projectors

• Rigorous revision lectures after completion of the portion.